Read the disclaimer and complete the check box below to continue...
THINGS YOU NEED TO CONSIDER WHEN TRANSFERRING YOUR SUPERANNUATION
When you transfer your superannuation, your entitlements under the FROM fund may cease. You need to consider all relevant information before you make a decision to transfer your superannuation. If you ask for information, your superannuation provider must give it to you. Some of the points you may consider are:
Closure of account – this transfer may close your account (you will need to check this with your FROM fund).
Fees – your FROM fund must give you information about any exit and withdrawal fees. If you are not aware of the fees that may apply, you should contact your fund for further information before completing this form. The fees could include administration fees as well as exit or withdrawal fees. Vision Super does not charge any fees for transferring your super into your account with us. Differences in fees funds charge have a significant effect on what you will have to retire on. For example, a 1% increase in fees may significantly reduce your final benefit.
Death and disability benefits – your FROM fund may insure you against death, illness or an accident which leaves you unable to return to work. If you choose to leave your current fund, you may lose any insurance entitlements you have. If you have existing Death only or Death and Disability cover (e.g. through another superannuation fund), you can apply to transfer your cover to your Vision Super account. Any transfer is subject to acceptance by the Insurer. To transfer your existing cover contact Vision Super for an Insurance Transfer Form. It is important you do not cancel existing cover until any application for transfer has been accepted by our insurer. You will have 60 days to cancel the accepted cover approved by the insurer.
THIS FORM CAN NOT BE USED TO:
• Change the fund to which your employer pays contributions on your behalf. The Standard Choice Form must be used;
• Open a superannuation account; or
• Transfer benefits under certain conditions or circumstances, for example if there is a superannuation agreement under the Family Law Act 1975 in place.
WHAT HAPPENS TO MY FUTURE EMPLOYER CONTRIBUTIONS?
Using this form to transfer your benefits will not change the fund to which your employer pays your contributions and may close the account you are transferring your benefits FROM. If you wish to change the fund into which your contributions are being paid, please complete the Standard Choice Form available on our website, under member forms, and return it to your employer.
By submitting this request form I am making the following statements:
• I declare I have fully read the important information provided
• I declare the information I have provided is true and correct.
• I am aware I may ask my super provider for information about any fees or charges that may apply, or any other information about the effect this transfer may have on my benefits, and have obtained or do not require such information.
• I discharge the super provider(s) of the funds I wish to transfer of all further liability in respect of the benefits paid and transferred to my Vision Super account
• I have read the Tax File Number (TFN) information provided on this page and I authorise Vision Super to give my TFN to my other super fund and I consent to my tax file number being disclosed for the purposes of consolidating my super accounts.
• I authorise Vision Super to contact my other super fund(s) regarding this request to transfer my super.
• I request and consent to the transfer of super as described above and authorise the super provider of each fund to give effect to this transfer.
• This information is required for the sole purpose of managing and payment of superannuation benefits and entitlements and will be protected in accordance with the provisions of the Privacy Act 1988 and Vision Super privacy policies. The information you provide will be used to maintain your account.
•I note that my other fund may require further paperwork to complete the transfer.
Providing your TFN:
You are not obligated to provide your TFN to your superannuation fund. However, if you do not provide your TFN, your fund may be taxed at the highest marginal tax rate plus the Medicare levy on contributions made to your account in the year, compared to the concessional tax rate of 15%. Your fund will usually deduct this additional tax from your account. If your superannuation fund does not have your TFN, you will not be able to make personal contributions to your superannuation account. Choosing to quote your TFN will also make it easier to keep track of your superannuation in the future.